Can I retire at age 70 with 2,960,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$244,434$242,257$240,132$238,059$236,035$233,085
2 years$121,007$118,753$116,569$114,451$112,397$109,430
3 years$79,870$77,607$75,428$73,330$71,310$68,416
4 years$59,306$57,049$54,892$52,830$50,859$48,061
5 years$46,970$44,727$42,599$40,579$38,662$35,968
6 years$38,749$36,523$34,426$32,451$30,592$28,006
7 years$32,879$30,672$28,608$26,680$24,879$22,402
8 years$28,479$26,292$24,262$22,381$20,640$18,271
9 years$25,058$22,892$20,897$19,064$17,382$15,120
10 years$22,323$20,178$18,218$16,433$14,810$12,654
11 years$20,087$17,963$16,039$14,302$12,737$10,685
12 years$18,225$16,123$14,234$12,545$11,038$9,087
13 years$16,650$14,570$12,717$11,075$9,625$7,773
14 years$15,302$13,244$11,427$9,831$8,437$6,682
15 years$14,135$12,099$10,317$8,768$7,429$5,767
16 years$13,114$11,100$9,354$7,850$6,566$4,994
17 years$12,214$10,223$8,511$7,054$5,822$4,337
18 years$11,416$9,446$7,770$6,357$5,176$3,776
19 years$10,702$8,755$7,113$5,744$4,614$3,295
20 years$10,060$8,135$6,528$5,202$4,121$2,879
21 years$9,480$7,578$6,004$4,721$3,688$2,521
22 years$8,954$7,074$5,534$4,293$3,306$2,210
23 years$8,474$6,616$5,110$3,909$2,967$1,939
24 years$8,035$6,199$4,726$3,566$2,667$1,703
25 years$7,631$5,817$4,377$3,256$2,400$1,498
26 years$7,260$5,467$4,059$2,977$2,162$1,318
27 years$6,916$5,145$3,769$2,725$1,949$1,161
28 years$6,597$4,848$3,504$2,497$1,759$1,023
29 years$6,301$4,574$3,261$2,290$1,588$901
30 years$6,025$4,319$3,037$2,101$1,435$795
31 years$5,768$4,083$2,832$1,930$1,297$701
32 years$5,527$3,864$2,642$1,774$1,173$619
33 years$5,301$3,659$2,467$1,631$1,062$547
34 years$5,089$3,468$2,305$1,501$962$483
35 years$4,889$3,289$2,155$1,382$871$426
36 years$4,701$3,122$2,016$1,272$789$377
37 years$4,524$2,965$1,887$1,172$715$333
38 years$4,356$2,818$1,767$1,081$648$294
39 years$4,197$2,680$1,655$996$588$260
40 years$4,047$2,549$1,552$919$533$230
41 years$3,904$2,427$1,455$848$484$203
42 years$3,769$2,311$1,365$782$439$180
43 years$3,640$2,202$1,281$722$398$159
44 years$3,517$2,099$1,202$667$362$141
45 years$3,400$2,002$1,129$616$328$124
46 years$3,288$1,909$1,060$569$298$110
47 years$3,182$1,822$996$526$271$97
48 years$3,080$1,740$936$486$246$86
49 years$2,983$1,661$880$449$223$76
50 years$2,890$1,587$827$415$203$67

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 70 starting with $2,960,000, adding $3,672 every year, while hoping to spend $24,343 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 58/12/30 Blend
69$2,960,000$2,960,000$2,960,000$2,960,000
70$3,265,708$3,108,828$3,062,948$3,428,031
71$3,572,909$3,235,259$3,139,656$3,666,310
72$3,910,629$3,367,071$3,218,117$3,923,148
73$4,281,955$3,504,499$3,298,366$4,202,729
74$4,690,288$3,647,793$3,380,435$4,507,267
75$5,139,376$3,797,213$3,464,358$4,839,203
76$5,633,347$3,953,031$3,550,169$5,201,219
77$6,176,750$4,115,532$3,637,901$5,596,269
78$6,774,598$4,285,012$3,727,590$6,027,605
79$7,432,412$4,461,783$3,819,270$6,498,807
80$8,156,278$4,646,170$3,912,975$7,013,816
81$8,952,900$4,838,514$4,008,741$7,576,970
82$9,829,665$5,039,170$4,106,603$8,193,047
83$10,794,711$5,248,510$4,206,595$8,867,307
84$11,857,009$5,466,924$4,308,753$9,605,542
85$13,026,441$5,694,820$4,413,113$10,414,132
86$14,313,895$5,932,623$4,519,709$11,300,100
87$15,731,370$6,180,780$4,628,577$12,271,184
88$17,292,087$6,439,756$4,739,752$13,335,902
89$19,010,615$6,710,039$4,853,270$14,503,640
90$20,903,008$6,992,140$4,969,164$15,784,732
91$22,986,953$7,286,594$5,087,469$17,190,564
92$25,281,944$7,593,959$5,208,221$18,733,675
93$27,809,460$7,914,820$5,331,454$20,427,877
94$30,593,167$8,249,789$5,457,200$22,288,386
95$33,659,148$8,599,506$5,585,494$24,331,963
96$37,036,141$8,964,642$5,716,368$26,577,072
97$40,755,816$9,345,898$5,849,855$29,044,053
98$44,853,071$9,744,009$5,985,987$31,755,313
99$49,366,361$10,159,741$6,124,794$34,735,538
100$54,338,062$10,593,901$6,266,306$38,011,925